Seagate reported a second fiscal quarter net income of $563 million, or $1.28 a share (statement). Non-GAAP earnings were $1.32 a share on a revenue of $3.2 billion.

Wall Street was expecting Seagate to report second fiscal quarter earnings of $1.06 a share on revenue of $3.14 billion.

Seagate also shipped 47 million disk drives during the last quarter.

In November, Seagate upped its sales outlook for the December quarter to 43 million units shipped with revenue of $2.8 billion. However, some experts believe that the hard drive shortage is going to have a wider effect upon manufacturers and partners in early 2012.

For the outlook, Seagate is predicting a revenue of $3.75 billion excluding Samsung. Wall Street is expecting revenue to reach $3.32 billion.